OLDWICK, NJ, August 28, 2024–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of Vantis Life Insurance Company (Vantis Life) (Windsor, CT). The outlook of these credit ratings (ratings) is stable. At the same time, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.
The ratings reflect Vantis Life’s balance sheet strength, which AM Best considers to be very strong, as well as the company’s marginal operating performance, neutral business profile and adequate risk management. The company also receives an additional rating upgrade from its parent company, Penn Mutual Life Insurance Company (Penn Mutual). The Penn Mutual Group’s ratings are not affected by this withdrawal, as Vantis Life previously received a group rating.
Vantis Life is a direct insurer and administrator of individual tax-deferred annuities, ordinary and group life insurance, and credit insurance. Vantis Life is a wholly owned subsidiary of Penn Mutual and has focused primarily on direct sales to consumers, but has stopped issuing new business since the third quarter of 2022. Vantis Life will continue to be part of Penn Mutual and will continue to be expressly supported by Penn Mutual when needed.
This press release refers to credit ratings published on AM Best’s website. All rating information on this publication and related disclosures, including bureau details, are available at The persons responsible for publishing the individual ratings can be found in the Current review activity Website. For more information on the use and limitations of credit rating opinions, see Guide to Best Credit Ratings. For information regarding the proper use of AM Best’s credit ratings, performance ratings, preliminary credit ratings and press releases, please visit Guide to the correct use of Best’s ratings and reviews.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company operates in over 100 countries and has offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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